Jakarta (ANTARA) - The Indonesian rupiah strengthened against the US dollar in the Jakarta interbank market on Friday morning following the easing of lockdown restrictions against COVID-19 in several countries.

At 10:11 a.m. local time, the rupiah appreciated 60 points, or 0.4 percent, to Rp14,935 per US dollar as compared to Rp14,995 per US dollar earlier.

Chief of Research and Education of Monex Investindo Futures Ariston Tjendra noted in Jakarta on Friday that the easing of COVID-19 lockdown restrictions brought positive sentiment to risk assets, including the rupiah.

"Despite lingering fears of the easing of lockdown restrictions causing a second wave of COVID-19 outbreak, the world can learn from the easing of lockdown restrictions in South Korea and Hong Kong that did not spark a new outbreak," he noted.

The report on the slow pace of new confirmed coronavirus cases in several countries also offered a positive sentiment to risk assets.

Normalcy gradually being restored in trade activities in China may encourage trade activities in other countries, he noted.

"The market remains on alert for worsening economic data due to (the COVID-19) outbreak, he stated.

Ariston has forecast the rupiah to trade in the range of Rp14,800 to Rp15,150 per US dollar on Friday.

On Wednesday, May 5, 2020, the rupiah rose 85 points, or 0.56 percent, to close at Rp14,995 per US dollar, from Rp15,080 per US dollar earlier.

According to the Bank Indonesia mid-rate on Friday, the rupiah strengthened to Rp15,009 per US dollar as compared to Rp15,127 per US dollar earlier.

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Translator: Citro Atmoko/Suharto
Editor: Sri Haryati
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